CreditPro Finance Firm Restricted is focusing on to boost N2 billion in capital by the top of the yr, following its latest licensing by the Central Bank of Nigeria (CBN).
The capital injection is geared toward strengthening the corporate’s monetary basis and accelerating its growth into new markets.
The Managing Director of CreditPro, Adesola Adeyiga, talking in an interview with Nairametrics, confirmed that the fundraising initiative represents the primary spherical of funding below the agency’s newly acquired regulatory standing.
“That is our first spherical of funding, and we intend to boost N2 billion earlier than December 2025,” he acknowledged.
Breakdown of Capital Allocation
The MD outlined an in depth plan for the deployment of the funds, which will likely be strategically allotted throughout three core areas:
- Working Capital – N1.7 Billion: The vast majority of the funds will likely be used to bolster CreditPro’s working capital base, enabling the corporate to scale its lending operations and enhance liquidity to fulfill rising demand from small and medium-sized enterprises (SMEs).
- Expertise Infrastructure – N200 Million: A portion of the capital will likely be invested in upgrading the corporate’s digital programs, together with server enhancements and the deployment of superior tech platforms to streamline customer engagement and backend operations.
- Market Growth – N100 Million: The remaining funds will help CreditPro’s go-to-market technique, which incorporates opening new branches and launching focused advertising and marketing campaigns to spice up model visibility and customer acquisition.
Fundraising Technique and Investor Engagement
To facilitate the capital increase, CreditPro is at present in discussions with three funding homes, together with Mainstreet Capital. These corporations are performing as strategic companions, aiding in figuring out potential buyers and structuring the fundraising course of.
“We’re exploring a number of avenues, together with non-public placements and choice shares that will later convert to fairness,” the MD defined. “Whereas business papers are a part of our long-term technique, we’re not instantly pursuing that route as a result of newness of this enterprise mannequin below our CBN licence.”
Though CreditPro has operated for six years below a cash lender licence, its latest transition to a CBN-licensed finance firm marks a brand new chapter in its evolution. The regulatory improve positions the agency to broaden its lending portfolio and supply extra strong monetary options to SMEs throughout Nigeria.
Outlook and Strategic Imaginative and prescient
With work on the fundraising initiative already underway, CreditPro is optimistic about finishing the capital increase earlier than the top of 2025.
The corporate’s management believes the transfer will considerably improve its credibility, entice institutional buyers, and allow it to compete extra aggressively in Nigeria’s dynamic monetary providers sector.
As CreditPro enters this new part, its focus stays on sustainable development, innovation, and delivering long-term worth to stakeholders.
What You Ought to Know
- In 2023, CreditPro was listed by the Federal Competitors and Client Safety Fee (FCCPC) amongst 173 corporations authorised to function as digital cash lenders.
- This got here because the deadline for the registration of the businesses closed on March 27 that yr.
- Out of the 173 corporations registered and authorised by the Fee, 119 got full approval, whereas 54 got conditional approval as they produce other circumstances to fulfil.
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